Solid News

Starbucks Corp., Technical Analysis

2/2/2023 10:15 AM

The shares of Starbucks Corp., one of the largest companies in the world, which owns the chain of coffee houses of the same name, are moving in a corrective trend at 110.00.

On the daily chart, the price is growing within the local ascending channel with dynamic boundaries 116.00–98.00, having consolidated above the local high of last week around 107.00 yesterday.

On the four-hour chart, the potential for the continuation of the upward dynamics has not yet been exhausted, despite the quotes being close to the channel resistance line, and 118.00 looks quite achievable. In case of correction, the key support will be 107.00, after consolidation below which it is possible to reach the December lows around 99.00.

Technical indicators maintain a stable buy signal: fast EMAs on the Alligator indicator keep a wide range of fluctuations, moving away from the signal line, and the AO histogram forms rising bars in the buying zone.

Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023